Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi...
by tyre on Monday June 28, 2021 @02:04PM
(#27665307)
Because traditional contracts can be interpreted by a court of law and adjudicated with context. There's an entire field of contract law, with hundreds of years of precedent to fix very obvious human errors, like a typo where neither party could have possibly meant what is "technically" in the contract.
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Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi...
by tablespoon on Monday June 28, 2021 @02:19PM
(#27665535)
> Because traditional contracts can be interpreted by a court of law and adjudicated with context.
And all of that is a kind of technology that many "technology" people are far too eager to throw away for spurious reasons (often because they just plain don't understand it).
It's like if someone was working on autopilot program and rewrote it in a "modern" language, and "simplified" it in the process by dropping a bunch of "unnecessary" use cases...then it turns out that at least some of those cases were there for good reason and a bunch of planes crash. A lot of cryptocurrency and blockchain stuff is half-baked because it seems focus on faddish technology for its own sake rather than trying to actually build someone that works.